This course prepares prospective MBA students to examine basic topics in business statistics that are prerequisite to quantitative and non-quantitative course in an MBA program. Topics include a variety of descriptive and inferential statistics and probability applications encountered in business decision-making. The topics discussed in descriptive statistics and probability include: level of measurement, sample characteristics, descriptive and probability applications, discrete and continuous random variables, games of chance, standard normal and binomial distributions, and sampling distributions. The inferential statistics topics include: estimation, hypothesis testing using z and t tests, chi-square goodness-of-fit, ANOVA, regression, and applications using control charts. Students enrolled in this course use CD-ROM materials to investigate many of these topics within a self-paced format. Students who benefit most from this course are those who have been away from quantitative courses for a period of time and whose algebraic and statistical skills need to be refreshed. Students with weak mathematical backgrounds are probably best served by enrolling in QS211 Statistics.
2 Credits